Tds on payment to GTA

TDS 1831 views 6 replies
I have used the service of Gta and tge billed amount to me is ₹40000/-. Now i am an individual proprietorship concern, do i need to deduct tds on this as the contract exceeds limit of 30000/- or there is no such limit for payment to gta provided i have the tds declaration of the gta taht it does not own more than 10 trucks.
Replies (6)
Hi. In what item you are dealing - taxable or non taxable. Secondly r u register under GST. Thirdly the contract Amt is more than 30k in single bill, that you have to deduct tds as per income tax act, but as the Transporter given Declaration than you have to show in tds return, if you have TAN number with '0' tds on transportation payment with T flag. In case of GST you have to pay 5%on reverse charge, if u r registered under GST.
I am dealing in taxable as well as non taxable goods. and i am also registered under gst.
please explain the liability under tds clearly if i am dealing in non taxable goods.
Are you liable to tax audit under IT Act. If yes then TDS provisions will apply to you and if not you are out of TDS provisions.
In case you are subject to tax audit then also in the given case you are not required to deduct TDS on freight charges as the transporter has given the declaration. However please remember such declaration must be supported with transporters valid PAN
ok thank you


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